Hesai's 15-minute chart shows KDJ Death Cross and Bearish Marubozu pattern.

The 15-minute chart for Hesai has triggered a KDJ Death Cross and a Bearish Marubozu on September 22, 2022 at 14:45. This indicates a shift in the momentum of the stock price towards the downside, with a potential for further decreases. The market is currently under the control of sellers, and it is likely that the bearish momentum will continue.

Hesai Group (NASDAQ:HSAI), a leading player in the lidar market, has recently expanded its production agreement with a prominent robotaxi company in the US. The new deal, valued at over $40 million, is set to be completed by the end of 2026 and includes deliveries of both long-range and short-range lidar solutions Hesai Group (HSAI) Inks $40M Lidar Supply Deal with Robotaxi Firm^[1]. This agreement underscores Hesai's role as a trusted partner in the development of next-generation autonomous cars.

Hesai Group designs and manufactures high-performance lidar sensors for applications in autonomous driving, advanced driver-assistance systems (ADAS), and robotics. The company's integration of in-house manufacturing with research and development has positioned it as a key player in the global L4 autonomous driving lidar market, commanding approximately 61% of the market share Hesai Group (HSAI) Inks $40M Lidar Supply Deal with Robotaxi Firm^[1].

However, the technical analysis of Hesai's stock price indicates a potential shift in momentum. On September 22, 2022, at 14:45, the 15-minute chart for Hesai triggered a KDJ Death Cross and a Bearish Marubozu. These indicators suggest a bearish trend, with the market currently under the control of sellers, potentially leading to further price decreases .

Investors should closely monitor Hesai's performance and the broader market trends to make informed decisions. While Hesai's recent expansion agreement is a positive development, the technical indicators warrant caution.